Snowballing

OneWord2013_EngageI’m close to retirement and very in debt.  Thankfully, I have an Edward Jones advisor alarmed at what I’m paying each month and my total debt.  He immediately set out to adjust my financial status. By the grace of God, had I not needed several large withdrawals from my Roth IRA, I would be doing very, very well – even so, it is doing very, very well. We hope to keep it that way.

We took out enough funds to pay off my car. That monthly payment will now go toward paying off, in 8 months or less, a credit card. Said credit card is a Chase card with Blueprint. Blueprint helps you pay off your cards and/or use them more judiciously than I have in the past. Not only did we, Conrad and I, set up a payoff plan; I also set it up under Blueprint. I’ll receive monthly reminders of my progress from them, too.

What this reminds me is ACTION. When confronted with a concern or worry, I tend to stew over it way too long. Instead, I need to take action and engage, whether it is paying off debt, studying for a certification, or getting regular exercise. Setting up a PLAN is immensely helpful no matter for what the plan addresses.

I’ve known for a long time about the concept of snowballing: paying off one debt, in this case my car, then adding that payment to another to pay off a second debt quicker. It had been a long time since I sat down and did it.

I’m excited about this New Year. Not only do I have a job which pays well, is flexible and yet full-time, I see progress for my financial future.

Next up – prayer, study, and exercise!

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